$ELV (+2,2%)

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📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬

• Adj. EPS: $6.99 (Est. $4.69) ✅

• Operating Revenue: $50.4B (Est. $49.16B) ✅, +0.7% YoY.

• GAAP EPS: $6.27.

• Operating Gain: $1.3B.

• Operating Margin: 2.5% (vs. 2.6% YoY).

• Adj. Operating Margin: 2.7%, flat YoY.

• Benefit Expense Ratio: 90.6%, improved 70 bps YoY.

• Operating Cash Flow: $1.3B.

• Medical Membership: 44.9M, -487K YoY.

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🎯 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞

• FY2026 Adj. EPS: At least $29.00 (Est. $27.24) ✅, raised.

• FY2026 GAAP EPS: At least $22.00, raised.

• FY2026 Operating Cash Flow: At least $6.5B, raised.

• FY2027 Adj. EPS Growth: At least 12% from an adjusted FY2026 baseline of at least $26.75.

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📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬

• Q3 Adj. EPS beat consensus by ~49%, while operating revenue exceeded estimates by ~2.5%.

• Q3 Adj. EPS included a $1.85 per-share net non-operating benefit, contributing significantly to the earnings beat.

• Carelon revenue grew 5% YoY to $19.3B, while operating profit jumped 17% to $0.9B and margin expanded 50 bps to 4.7%.

• Health Benefits revenue increased 3% to $43.4B, but operating margin contracted to 1.0% from 1.4% YoY.

• Benefit expense ratio improved 70 bps to 90.6%, reflecting better Medicare Advantage and Individual ACA performance.

• Medical membership declined by 487K YoY to 44.9M, driven by lower Medicaid, Medicare Advantage and employer risk enrollment.

• Elevance repurchased $330M in shares and paid $373M in dividends during Q3.

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💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐲

“We are raising our 2026 earnings outlook and remain confident in delivering at least 12% growth in adjusted diluted earnings per share in 2027 from our higher earnings baseline of at least $26.75.”

I been pickin' up stocks left and right, faster than Lightning McQueen on a straightaway!

My latest haul? Oh boy, I got me a whole garage full of winners:

$ASTS (-5,8%) — that's my wild space-racin' satellite buddy, shootin' for the stars!

$ELV (+2,2%) — solid as an old tow truck, that healthcare giant's built to last through any storm. $WDAY (+3,61%) — workin' hard in the cloud, just like me haulin' tractors all day.

$TEAM (-1,88%) — Atlassian, my new collaboration tractor! Keeps all them teams workin' together smoother than a fresh coat of rust-proof paint.

$MSFT (-1,94%) — the big blue-chip boss, steady and smart as Doc Hudson.

And $DASH (+0,97%) — zoomin' around deliverin' food quicker than Flo's diner on a busy night!

Most of 'em are performin' great, and lemme tell ya… these babies are long-term keepers. I'm talkin' hold 'em through the bumps, the potholes, and all the way to the finish line.

No quick flips here — we're in it for the long haul, just like a good ol' friendship!

$ELV (+2,2%)

✅ EPS: $6.03 adj. vs. $4.94 est.

✅ Revenue: $50.1B vs. $49.5B est. (+12% Y/Y)

• Operating margin: 2.6% (↓ from 3.1% Y/Y)

• Reaffirmed FY25 EPS guidance of ~$30 and benefit expense ratio ~90%

• Returned $3.3B to shareholders YTD

📊 Takeaway: Elevance Health delivered a clear earnings beat with strong revenue growth and disciplined execution. Margins remain under pressure, but reaffirmed guidance and solid cash returns highlight operational strength heading into 2026.

$ELV (+2,2%)

🔹 Adj EPS: $8.84 (Est. $9.07) 🔴

🔹 Revenue: $49.4 B (Est. $48.14B) 🟢; +14.3% YoY

FY25 Guidance

🔹Adj EPS: $30.00 (Est. $34.48) 🔴

Q2 Segment / Product Results

🔹 Health Benefits revenue: $41.6 B; UP +12% YoY

🔹 Health Benefits operating margin: 3.8%; DOWN –200 bp YoY

🔹 Carelon revenue: $18.1 B; UP +36% YoY

🔹 Carelon adjusted operating margin: 5.2%; DOWN –40 bp YoY

Other Metrics

🔹 Benefit expense ratio: 88.9%; UP +260 bp YoY

🔹 Operating expense ratio: 10.1%; DOWN –160 bp YoY

🔹 Returned $2.0 B capital to shareholders YTD

CEO Commentary

🔸 “In the second quarter, Elevance Health made meaningful progress in delivering an experience that is simple and personal to those we serve, while advancing our efforts to enhance efficiency across the healthcare system… With the embedded earnings power of our diversified Health Benefits and Carelon businesses, we remain confident in achieving at least 12% average annual growth in adjusted diluted EPS over time.” – Gail K. Boudreaux